Good Health,LLP,completed the Following Inventory Transactions During the Month of August

Essay

Good Health,LLP,completed the following inventory transactions during the month of August:
a.used cash to purchase $620,000 of merchandise
b.purchased $190,000 of merchandise on account
c.paid freight costs of $33,000 on merchandise purchased FOB shipping point
d.returned $12,000 of defective merchandise to the supplier
e.used cash to purchase $210,000 of merchandise
f.paid the purchasing manager's monthly salary of $11,000
g.purchased $45,000 of merchandise on account
h.paid the sales staff's $22,000 salary for the month
i.paid freight costs of $9,000 on merchandise purchased FOB shipping point
j.paid the $17,000 utility bill for the month
Required: Determine the cost of merchandise purchased for the month.